Call Spread on STLD on 2/21/2023

Steel Dynamics, Inc. (STLD) operates as a steel producer and metal recycler in the United States. 

It operates through three segments: Steel Operations, Metals Recycling Operations, and Steel Fabrication Operations.

The Steel Operations segment offers hot roll, cold roll, and coated steel products; parallel flange beams and channel sections, flat bars, large unequal leg angles, and reinforcing bars, as well as standard strength carbon, intermediate alloy hardness, and premium grade rail products; and engineered special-bar-quality products, merchant-bar-quality products, and other engineered round steel bars.

The company also engages in turning, polishing, straightening, chamfering, threading, precision saw-cutting, and heat treating of bar products; and cutting to length, straightening, hole punching, shot blasting, welding, galvanizing, and coating of specialty products. 

The Metals Recycling Operations segment purchases, processes, and resells ferrous and nonferrous scrap metals into reusable forms and grades. 

On January 25th, STLD reported Quarter December 2022 earnings of $4.37 per share on revenue of $4.8 billion. The consensus earnings estimate was $3.60 per share on revenue of $4.7 billion.

We will be trading March 17th options

Last Trade: $124.97

Trading Range: $59.04 to $132.50

Trade Buy 1 March $125.00 Call at $5.30 Sell 1 March $135.00 Call at $1.70 For a net debit of $3.60 Profit/Loss Analysis Breakeven at $128.60 Maximum profit is $640.00 at strike of $135.00 Maximum loss is ($360.00) at strike of $125.00 Closing Summary Sold 1 March $125.00 Call at $0.00 Bought 1 March $135.00 Call at $0.00

Position closed on 3/17/2023 at price of $0.00 with a -100.00% loss in 24 days.

Updates

3/17/2023 2:56:14 PM

STLD call options closed

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